<SEC-DOCUMENT>0001140361-13-001564.txt : 20130109
<SEC-HEADER>0001140361-13-001564.hdr.sgml : 20130109
<ACCEPTANCE-DATETIME>20130109165149
ACCESSION NUMBER:		0001140361-13-001564
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20130103
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20130109
DATE AS OF CHANGE:		20130109

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			USA TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000896429
		STANDARD INDUSTRIAL CLASSIFICATION:	CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578]
		IRS NUMBER:				232679963
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33365
		FILM NUMBER:		13520930

	BUSINESS ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 140
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6109890340

	MAIL ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 140
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USA ENTERTAINMENT CENTER INC
		DATE OF NAME CHANGE:	19931029
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<DESCRIPTION>USA TECHNOLOGIES INC 8-K 1-3-2013
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Washington, D.C. 20549</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Securities Exchange Act of 1934</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman">USA TECHNOLOGIES, INC.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">100 Deerfield Lane, Suite 140</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On January 3, 2013, USA Technologies, Inc. (the &#8220;Company&#8221;) and Avidbank Corporate Finance, a division of Avidbank (the &#8220;Bank&#8221;), entered into a First Amendment (the &#8220;First Amendment&#8221;) to the Loan and Security Agreement previously entered into by them on July 10, 2012 (the &#8220;Loan Agreement&#8221;). The Loan Agreement provides for a secured asset-based revolving line of credit based upon a borrowing base equal to a&#160;percentage of the Company&#8217;s accounts receivable and processing revenues&#160;and service fees, provided that the aggregate amount of advances under the line of credit shall not exceed $3,000,000 (the &#8220;Line of Credit&#8221;). As more fully described below, as a result of the First Amendment, the borrowing base has now been increased by $1,000,000.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the original&#160;Loan Agreement, the aggregate amount of advances under the Line of Credit could not exceed the lesser of (i) $3,000,000, or (ii) 75% of eligible accounts receivable as defined in the Loan Agreement plus 80% of the prior two months transaction processing revenues and networking service fees as defined in the Loan Agreement, provided that the amounts advanced on account of such processing revenues and service fees could not exceed $1,000,000 without the Bank&#8217;s prior consent (the &#8220;Borrowing Base&#8221;). Pursuant to the First Amendment, the Bank has now agreed that the amounts to be advanced on account of such processing revenues and service fees shall be increased from $1,000,000 to $2,000,000. As a result of such increase, the Borrowing Base has been increased by $1,000,000.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<td align="left" nowrap valign="bottom" width="35%">Stephen P. Herbert,</td>
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</SEC-DOCUMENT>
